Carnival Corporation (NYSE:CCL) Expected to Earn Q1 2018 Earnings of $0.41 Per Share

Carnival Corporation (NYSE:CCL) – Equities research analysts at William Blair lifted their Q1 2018 earnings per share (EPS) estimates for shares of Carnival in a report issued on Tuesday, according to Zacks Investment Research. William Blair analyst S. Zackfia now forecasts that the company will post earnings per share of $0.41 for the quarter, up from their prior forecast of $0.38. William Blair also issued estimates for Carnival’s Q4 2018 earnings at $0.82 EPS, FY2018 earnings at $4.30 EPS and FY2019 earnings at $4.78 EPS.

CCL has been the topic of a number of other reports. Stifel Nicolaus raised their target price on Carnival from $79.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Susquehanna Bancshares lifted their price objective on Carnival from $75.00 to $76.00 and gave the stock a “positive” rating in a report on Monday, September 25th. Zacks Investment Research upgraded Carnival from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Thursday, September 21st. Credit Suisse Group reiterated a “neutral” rating on shares of Carnival in a report on Thursday, September 28th. Finally, Instinet reiterated a “buy” rating and issued a $75.00 price objective on shares of Carnival in a report on Monday, October 2nd. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Carnival has an average rating of “Buy” and a consensus target price of $72.78.

Carnival (CCL) traded up $0.89 during trading hours on Friday, hitting $69.69. The stock had a trading volume of 3,240,000 shares, compared to its average volume of 3,170,000. Carnival has a 52-week low of $52.65 and a 52-week high of $69.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.18 and a quick ratio of 0.14. The firm has a market cap of $49,900.00, a PE ratio of 19.41, a PEG ratio of 1.17 and a beta of 0.73.

Carnival (NYSE:CCL) last announced its quarterly earnings results on Tuesday, December 19th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.12. Carnival had a return on equity of 11.78% and a net margin of 14.88%. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 24th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.58%. This is a positive change from Carnival’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Wednesday, November 22nd. Carnival’s dividend payout ratio (DPR) is 44.57%.

In other news, CEO Arnold W. Donald sold 6,000 shares of Carnival stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $68.00, for a total transaction of $408,000.00. Following the sale, the chief executive officer now owns 115,572 shares of the company’s stock, valued at approximately $7,858,896. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Arnaldo Perez sold 15,166 shares of Carnival stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $66.59, for a total transaction of $1,009,903.94. The disclosure for this sale can be found here. Insiders sold a total of 354,545 shares of company stock worth $23,694,789 over the last three months. Corporate insiders own 23.80% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Pathstone Family Office LLC raised its position in shares of Carnival by 200.0% during the 2nd quarter. Pathstone Family Office LLC now owns 57 shares of the company’s stock valued at $2,493,000 after buying an additional 38 shares during the period. Vantage Financial Partners Ltd. Inc. purchased a new stake in shares of Carnival during the 2nd quarter valued at approximately $289,000. Almanack Investment Partners LLC. purchased a new stake in shares of Carnival during the 2nd quarter valued at approximately $117,000. Grove Bank & Trust raised its position in shares of Carnival by 367.8% during the 3rd quarter. Grove Bank & Trust now owns 2,035 shares of the company’s stock valued at $131,000 after buying an additional 1,600 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Carnival by 109.4% during the 2nd quarter. Bessemer Group Inc. now owns 2,618 shares of the company’s stock valued at $171,000 after buying an additional 1,368 shares during the period. 75.91% of the stock is currently owned by hedge funds and other institutional investors.

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About Carnival

Carnival Corporation is a leisure travel company. The Company is a cruise company of global cruise guests, and a provider of vacations to all cruise destinations throughout the world. The Company operates in four segments: North America, EAA, Cruise Support and, Tour and Other. The Company’s North America segment includes Carnival Cruise Line, Holland America Line, Princess Cruises (Princess) and Seabourn.

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